Green Alpha Advisors LLC Reduces Stock Position in American Tower Co. (NYSE:AMT)

Green Alpha Advisors LLC lessened its position in American Tower Co. (NYSE:AMT) by 8.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,484 shares of the real estate investment trust’s stock after selling 328 shares during the period. Green Alpha Advisors LLC’s holdings in American Tower were worth $639,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. CX Institutional increased its holdings in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc grew its position in shares of American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares during the last quarter. Palumbo Wealth Management LLC increased its stake in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.67.

American Tower Price Performance

Shares of NYSE:AMT opened at $173.54 on Monday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business has a fifty day moving average price of $194.98 and a 200-day moving average price of $211.92. The company has a market capitalization of $81.09 billion, a PE ratio of 73.22, a PEG ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. As a group, equities analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.